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Jan 24, 2013 1:00pm EST
, requiring congress to not spend more than it makes, than it takes in in taxes. if you call taxation making money, but it can't spend more than it takes in. any traction on that? >> yeah. this is an idea, an old idea, whose time has timely come, and, you know, as polls show about 75% of all americans support this idea, most of the state legislatures operate the same way, and we need to do this because we need permanent structural spending reform so that we don't find ourselves back in the same position every six to 18 months in raising the debt limit. >> limit spending to 18% of the gross national product, 18%. right now, it's a rate of 23%. we're looking at some of the other things that you would do. you want a historical average of total federal receipts so congress is only run a deficit, increase taxes, or increase debt if agreed upon by a two-thirds vote. i like how it sounds, but it doesn't sound like you can get other politicians to agree to it? >> rome was not build in a day. it's in the a sell yet, but we have support in the senate for the idea of a balanced budget amendment. the la
Jan 24, 2013 9:00am EST
an outdated and anticompetitive tax code, and to streamline government bureaucracies that are literally suffering job creation. they have done their jobs while senate democrats have tried to keep their priorities secret. now, we know senate democrats don't like the house budgets, and we know they don't even support the president's budgets, at least not with their votes. what we haven't known for nearly four years is what they're for, because they have refused to put their plans for the country down on paper and actually vote for them. now it's my hope that the democratic sudden interest in passing a budget isn't just another attempt to actually raise taxes. as i've said repeatedly, we're done with the revenue issue. the president has already said that the so-called rich are now paying their -- quote -- "fair share" -- end quote, and of course middle-class families are already on the hook for new taxes as a result of obamacare. so the question is who would be in the firing line this time? and at what cost? look, struggling families shouldn't have to pick up the tab again for washington'
Jan 24, 2013 6:00am EST
of potentially getting out of the eurozone. today, he took a different tactic. we talked about not raising tax rates, but as corporations around the world both affecting issues in the uk and elsewhere are becoming a real issue. i want you to take a look at this piece. >> individuals and bess must pay their fair var. and businesses who think they can carry on, they can keep selling to the uk, and selling uk tax arrangements are for you to wake up and sell the company. >> that comment, by the way, about coffee is actually about starbucks which has created some problems because they've been avoiding taxes in the uk. but take a look at this quote right here. david cameron not making friends. labor mp dennis skinner says it was gruesome for the prime minister to be heading out of austerity-riddled britain to wine and dine at davos with 50 top bankser who helped create the economic crash several hundred tax avoiding milliona e millionaires. >> a lot of people talk today about a report. there was a report earlier this morning that mr. oh lund discovered averting. in total, the report was said to be
Jan 24, 2013 7:00am PST
opinion on taxes themselves. nicholson set off a firestorm of controversy when he said he may have to move out of california because of recent hikes in federal and state taxes on the wealthy. when asked about it and the farmers insurance opened in california, he compared his remarks about the mistake he made the 2006 u.s. open. >> it was like when i tried to carve a three iron around the tree and made double bogey and lost the u.s. open. i think i will learn my lesson and take the wedge and get back and play. i made a big mistake talking about the stuff publicly and i should not have done that. >> still asking for a mulligan. he said that his tax rate is over 60 percent in the state. but according to the tax foundation in california tax experts, is closer to 51%. california recently became the state with high as top marginal tax rate banks to boaters passing in november a temporary tax hike on wealthy residents. >> new this morning police searching for a man who kidnapped a 13 year-old girl, i am live on the scene. >> also watching the bay area weather as we clear up this morning. we will
Jan 24, 2013 7:00am EST
not been all smooth sailing. starbucks got a roasting for paying no corporation tax on new sales of some $600 million. it's now volunteered to make some payments. starbucks arrangements are perfectly legal and typical of a multinational of its kind. but critics have not been silent, forcing starbucks into damage control. >> one of the things that's really tricky about that situation on corporation tax is how do you educate the public of the complexities of the british tax code, and does the public really care about those intricacies? probably not. so, on the one hand, by educating the public, you look defensive. by not educating them, then you're almost encouraging them to think that you are a big, greedy, terrible company trying to exploit your workers. it's a very difficult thing to play. >> big numbers expected later on from starbucks. >> aaron, thank you, thank you. do stay with us. there's much more to come here on "g.m.t." our science correspondent explains why biscuits provide a clue to the link between dogs and their canine ancestors. >> now, to the controversial construction of
Jan 24, 2013 9:00am EST
and wondered whether there was selling for tax reasons and things of that nature and the people i have spoken to this morning, who do manage money, say the same. all right. let's watch it today. let it weed out and then perhaps revisit it in a few days. >> a couple of dividend. you talked about how that could help, maybe they actually go in and do a buy back of monstrous proportions. >> that could be around the corner. their next meeting, board meeting, is february, when they initiated the dividend f that's catalyst that's a catalyst. isn't it sad to think this was once the go go growth company and now looking the a possible dividend or buy back as the next catalyst for the shares? my how things have changed. >> that requires a management that thinks there's something wrong with the stock. requires a management to hit the stock, maybe they are, maybe they are not. >> buy back or a dividend, acknowledgments? >> so clear the stock was blowing up during the conference call. very clear, but the company was talking about good product, good product. >> companies don't want to acknowledge they are n
Jan 24, 2013 7:00am PST
year to try to convince voters to approve a tax hike to deal with california's bumming. well, he successfully succeeded in doing that. so now his clout couldn't be lier and today we expect him to outline his vision on other issues beyond what last year was which was all about taxes and that's going to include as you said education, a big one. he is going to reveal a plan we expect that will offer more money and resources to poorer schools or those student who are more in need than others and also to address public universities to try to compel them to cut costs to students as well as making courses more prevalent online. infrastructure is another big one as he is expected to push for high speed rail and to talk act water issues and trying to build two massive tunnels to move water from northern california to southern california. part of today's state of the state address will be very positive in tone. the governor expected to point out that california is leading the nation in job growth and that the state's credit rating has improved dramaticly over the past several years. last b
Jan 24, 2013 4:00am EST
of opportunities. but both of those are outside the u.s. so we're assuming that the tax laws are not going to change. we're basically going to put our money to work in places like canada, the uk, israel, russia and asia where they're going to get a return and where we want it. >> that is a change and that starts spreading out, does that mean the rate of pick up in dividend payments and shares -- >> no, we committed to our shareholders 50% of our cash flow we will pay back on them, either in the form of dividends or share buybacks. but i think the key things to take away from davos is we're becoming the innovative leader and many of the concepts appear to be paying out very well for us. >> so what makes more sense for you right now, dividends, increase or a buyback? >> we're going to poll our shareholders. we've committed to giving you 50% back. >> thank you for join onning the program. >> we so appreciate it. >> thank you. now, look, we were going to talk about this but while we've got maria here, derek jeter, right? >> yes. he came to see me at dinner last night. i was talking about when
Jan 24, 2013 2:30pm PST
taxes. >> two very different approaches, but which went down better at davos? our correspondent has more. >> angela merkel can be joyful and comical. today, she was not. she was serious while cameron was casual, full of british humor, selling himself and his country, he even got applause during his speech, and although most people here criticized sharply his plans for a referendum, he did not say a lot about this topic today. he sold it as his duty to deliver the referendum to the british citizens. in contrast, angela merkel did not try to be entertaining. she emphasized the common interests of britain and the european union, like structural reforms, free trade agreement with the united states, and make europe more competitive, obviously trying to deal with a new conflict as coolly as possible, a strategy that has brought her a lot of success in the last years. thursday was the day of cameron and merkel. now everybody is heading to one of the numerous parties if they have enough energy, and tomorrow, we will continue the discussion over the role of the central bank's -- banks now and in
Jan 24, 2013 1:00pm PST
to take a profit before the higher capital gains taxes can kicked in at the beginning of the year. what's happening today is investors choosing to get out of the stock because competition is becoming more of a factor. there are these quality alternatives going strong these days. i'm talking about the tablet and the smartphone arena. it's getting crowded. what you're seeing is the average price is still around $700. a lot of people are still sweet on apple shares even though it plunged today, wolf. >> steve jobs died about a year and a half ago. what does all of this say about tim cook's tenure as the apple's ceo? >> it says you know what, you're going to get the blame, tim cook. you're the ceo so the buck stops with you. he saw the blowout of the iphone 4s and took the stocks to greater heights. it was around $375 when he took over. the price almost doubled in tim cook's first year in charge. it peaked in september when iphone 5 came out. since then, the shares have been tumbling. for one, wall street and analysts don't have much confidence that he can deliver like steve jobs did, that
Jan 24, 2013 7:00am EST
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Jan 24, 2013 10:00am EST
't think we can continue to tax the american economy when we need economic growth but it's about prioritizing spending. i'm a fiscal conservative who believes foreign aid can be useful but we have to get spending under control. will you use your position to encourage the president to work with us in good faith to solve the debt -- the debt and deficit issue? >> i spent six months, i guess, or five month, as a member of the super committee and i put enormous amount of energy and hope that we would be able to get the big bargain, the grand deal. i'm not here to go through all the the tails why we didn't. but there was a very hard line, nonnegotiating position that prevented us from being able to come to an agroment which incidentally we just came to. but we came to it with far less on the table and far less accomplished than we would have had if we'd come to that agreement six months ago or a year ago. so my hope is, yes, i certainly will weigh in on that to the degree that it has an impact on my ability to do my job and the ability of the state department to do its job. we cannot
Search Results 0 to 13 of about 14 (some duplicates have been removed)